TVL in lending protocols of DeFi has reached a new peak, surpassing 55.6 billion USD.

The total value locked (TVL) in lending protocols has set a new record, exceeding 55.69 billion USD — higher than any historical peak recorded in the years 2021, 2022, and the end of 2024.

A major contributor to this increase is Aave v3, as the TVL of this protocol reached a new record high of 26.09 billion USD last week. Just two months prior, at the beginning of April, the TVL of Aave v3 was only 16.87 billion USD — equivalent to a 55% increase in just two months. Compared to the beginning of 2025 (TVL 19.72 billion USD), Aave v3 has increased by more than 32% year-to-date.

Not only has TVL increased significantly, but revenue from protocol fees has also improved. In April, Aave recorded an average of about 900,000 USD/day in fees, and this figure rose to 1.6 million USD/day in June. Over the past three months, the AAVE token has increased by more than 65%, outperforming Bitcoin's 26% rise during the same period.

Notably, the upward trend is not limited to Aave. Other lending protocols like Morpho Blue and Maple Finance have also reported strong growth rates:

  • Morpho Blue currently has a TVL of 3.9 billion USD, an increase of 38% since the beginning of the year.
  • Maple Finance even saw a more impressive increase, with a TVL of 1.37 billion USD, equivalent to a growth of 417%.

In terms of tokens, MORPHO has increased by 12% over the past three months, while SYRUP — the native token of Maple Finance that was just launched in May 2025 — has risen by over 140% since its release.

Maple Finance is gradually establishing its position by expanding into the field of high collateral-free real asset lending (RWA). With the "sovereign pool" model, any credit representative can grant loan limits, as long as they can verify the borrower's evaluation data on-chain. This mechanism helps Maple diversify its customer base, no longer limited to crypto market makers as before.

This trend also reflects a larger shift in the crypto financial sector, where traditional credit desks — which could not hold crypto assets — can participate by purchasing tokenized bonds, thereby circulating capital into DeFi infrastructures.

Thach Sanh

View Original
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)